William Hill cash offer for Mr Green. William Hill through a controlled affiliate William Hill Holdings Limited (“William Hill” or the “Group”) announced a recommended cash offer to acquire Mr. Green & co.
MRG, a fast-growing innovative iGaming group with operations in 13 markets and brands including Mr. Green and Redbet holds remote gambling licenses in Denmark, Italy, Latvia, Malta, Great Britain, and Ireland. They also expect to obtain licenses in Sweden by year-end. MRG has leading gaming and casino products supported by a fast-growing sportsbook.
The Board of Directors of MRG has recommended the Offer for acceptance by the shareholders. This includes shareholders in MRG Henrik Bergquist, Hans Fajerson, Fredrik Sidfalk, Martin Trollborg, Karl Trollborg, Tommy Trollborg, and Anita Trollborg. The later representing 40.04% of the total number of issued shares and votes in MRG have undertaken to accept the Offer and tender their shares in MRG.
The combination of William Hill and MRG will create a strongly positioned combined business with an expanded pan-European footprint in faster growing online betting and gaming markets, further supported by the existing William Hill Online and Retail businesses in the UK and the US.
MRG core attributes to enhance business and strategy
• International growth: MRG’s existing international hub in Malta combined with operational expertise in establishing a presence in new markets.
• Improvement to William Hill revenue mix: MRG’s online-only business will increase the Group’s share of online and international revenue and profits.
• Brand: MRG’s primary brands, Mr Green and Redbet, have demonstrated strength and are complementary to the William Hill brand.
• High growth potential: MRG has historically delivered strong revenue growth across all the regions in which it operates.
• Leadership in sustainability: Strong fit between MRG’s leadership position on sustainability and William Hill’s Nobody Harmed.
Ulrik Bengtsson, William Hill’s Chief Digital Officer, will be responsible for leading the integration of MRG within the Group. Bengtsson has a strong background in working with Nordic online gaming businesses through his time at Betsson.
William Hill recognise the capabilities and skills of MRG’s dedicated management and employees and welcome these talented individuals to William Hill. Prior to completion of the Offer, no decision will be taken on any material changes to MRG’s employees and management. The existing organization and operations including the terms of employment and locations of the business will remain as is. Following completion of the Offer, a careful review of the capabilities and needs of the newly combined operations will be undertaken.
For a full report from William Hill can be seen at https://www.williamhillplc.com/newsmedia/newsroom/corporate-news/2018/william-hill-has-today-announced-a-recommended-cash-offer-for-mr-green-co/